Real estate investment firm Pretium announced that it has agreed to acquire BH Management Services (BH), a property management firm with a focus on multifamily, student and single-family housing. The transaction is expected to close early in the second quarter.

As a Pretium operating company, BH will continue to manage roughly 370 housing communities in 31 states in its portfolio. Pretium manages more than $50 billion in assets.

“The addition of BH is a natural adjacency to Pretium’s residential ecosystem and enables us to continue providing diverse housing options for residents based on their preferences and stages of life,” Pretium founder and CEO Don Mullen said in a prepared statement. “We look forward to working with the entire BH team to continue to strengthen BH’s model and market position.”

BH will also continue to be led by Chief Executive Officer Joanna Zabriskie and the current management team, with its headquarters remaining in Des Moines.

“This is an inflection point for BH and an opportunity to further invest in our centralized services platform, as well as advance our proprietary business intelligence systems. This transaction will also expand our operating footprint,” Zabriskie said in a prepared statement. “What’s exciting to me is what BH and Pretium will do together. We’re cut from the same cloth: we’re both overachievers. However, it’s in the places we’re different – BH as a leader in multifamily, and Pretium as a leader in specialized residential investments – that’s where new opportunities exist.”